What happened? Singapore Savings Bonds (SSBs) appear to have fallen out of favour with investors. with applications for the previous SSB falling to below S$1 billion. Compared to the T-bills and fixed deposits, the SSB allows us to lock in the interest rate for an extended duration of up to 10 years, while retaining the flexibility to redeem anytime. We shared earlier that the latest SSB (SBFEB24 GX24020T) offers a 10-year average return of 2.81%, below the return of 3.07% in the previous issuance. The cut-off yield for the latest 6-month Singapore T-bill also fell to 3.7% from 3.74% in the previous auction. For some investors who are worried that the SSB interest rate may fall further, we decided to find out what the projected interest rate for the next SSB might be. This will allow us to understand if we should subscribe to the current SSB or wait for the next one....